Its not really a system, I have some basic rules and a worksheet to take notes. I know most of you work in pips but I try to keep my rules within a dollar value - I am new at this so it's easier. I have a gaming controller set to perform macro and ...
Never really thought of it as a percentage, It is just an arbitrary figure to keep me from getting carried away, stop me from straying from the objective. The $25 an $50 points are the upper limits. Thats where I place my initial stop just in case ...
So far I haven't needed 30 pips for a stop with any trade, I usually lose confidence in it before it gets to that point and cut the trade short. I only ever have 2 trades at a time, The 20K trades I only use if I am following a very strong trend. To ...